Independent Retailers: How Will 2026 Budget Affect You

Around half of high street shops could soon pay no business rates at all. So why do so many of the retailers I speak to still feel let down by this Budget? Hi, I'm retail strategist and founder of Resilient Retail Club, Catherine Erdly. On Wednesday 28 October, John Healey delivered his first Budget as Chancellor, and for retailers there was a lot riding on it. Rises in employer National Insurance and the National Living Wage have added an estimated £6.5 billion to retail employment costs in the last couple of years. Plenty of independent shops are busy, loved by their customers and working flat out, and still struggling to keep enough cash in the business. Going in, most people I spoke to had high hopes and fairly low expectations. In this episode I go through what was actually announced and who it really helps: the business rates changes for shops in England, the new National Living Wage from April 2027, the VAT change for anyone selling through online marketplaces, and the help with household energy bills. But the headlines don't tell the whole story. A higher threshold doesn't help every shop, a "freeze" doesn't always mean your bill stays the same, and some of the support won't arrive until well after Christmas. You'll also hear how one Marlow boutique owner felt when the news landed. By the end, you'll know which changes are likely to affect your business, what you need to build into next year's forecast, and where to put your energy with the biggest sales months of the year right ahead of us. If you've been wondering whether this Budget is good news or bad news for your shop, press play. Chapters 00:00 Why so much was riding on this Budget 04:04 Better timing, and the business rates changes 06:56 Wages, marketplace VAT and help with energy bills 09:51 A shop owner's reaction, and my advice for Christmas Useful links Find your shop's rateable value (GOV.UK): https://www.gov.uk/find-business-rates Business rates relief explained (GOV.UK): https://www.gov.uk/business-rates-relief Stock Doctor, my done-for-you stock service: https://www.resilientretailclub.com/stock-doctor/ Twenty Three Living, Marlow: https://twentythreeliving.co.uk Barbakan Deli on Instagram: https://www.instagram.com/barbakandeli/ Connect with me on LinkedIn: https://uk.linkedin.com/in/catherineerdly More episodes of The Resilient Retail Game Plan: https://www.resilientretailclub.com/podcast/ Mentioned in this episode: Capify